Published
Dec 12, 2019
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India’s jewellery exports fall 5 percent in November

Published
Dec 12, 2019

India’s gems and jewellery exports dropped by five percent to Rs 18,136 crore ($2.56 billion) for November, due to poor consumer sentiment in key export markets.
 

India’s jewellery exports fall 5 percent in November - GJEPC India- Facebook


The gems and jewellery exports from India stood at Rs 19,039 crore for November 2018, according to data given by the Gems & Jewellery Export Promotion Council (GJEPC).
 
Cut and polished diamonds exports declined 25 percent to Rs 8,341 crore. However, gold jewellery exports witnessed a 21 percent rise to Rs 7,894 crore.

For April- November period gold jewellery exports grew by seven percent to Rs 59,688 crore.
 
The overall exports of gems and jewellery also declined by five percent to Rs 1,76,540 crore between April and November 2019 from Rs 1,85,543 crore a year ago.
 
The slowdown in exports was attributed to the ongoing trade war between the U.S. and China, coupled with weak demand in the main export markets. Local factors such as credit crunch, higher taxation also led to a drop in exports.

India’s main jewellery importers are Europe, China, the US, and Japan with the US importing around a quarter of India’s jewellery exports. 

India is one of the leading exporters of gems and jewellery. GJEPC estimates gems and jewellery exports make up about 15 percent of the country’s total exports.

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